Pemex Sets Date for Phase Four of Round One Contracts

The contract bidding is set for December 5 of this year

After launching the call for contract bidding last December, the date for Phase 4 of Round One is scheduled for Dec. 5, the National Hydrocarbons Commission (CNH) reported.

The regulating organization approved the auction known as the “crown jewel” that takes place on Monday, Dec. 5, to be issued on Dec. 7.

The regulator announced that there are nine registered interests so far, large oil companies with international operations, which in some cases are resorting to alliances to push for a contract.

Signage for a BP petrol station is pictured in London July 29, 2014. Photo: Reuters/Luke MacGregor.

The bidders are British Shell and BP, Total of France, Chevron, Exxon Mobil and Hess of the United States, Stat Oil of Norway, Atlantic Rim, and Australia’s BHP Billiton.

This stage, the most attractive so far, representing investments of 44 billion dollars, and proposes to the private initiative 10 fields involving exploration and extraction in deep and ultra-deep waters.

The twelve licencing contracts will last between between 35 and 50 years.

The date had been established by the Energy Secretariat, considering that the drastic fall in the value of oil would affect the success of the bid.

“We are taking time to analyze how the turbulent oil market is evolving, to find the right date in the best conditions for the auction,” said Energy Secretary Pedro Joaquín Coldwell.